The “New Rules” of Retail: Seven Key Insights for Shippers
It’s no secret that e-commerce has changed the landscape of B2C retail- but the ripple effect this evolution has wrought on supply chains, including those of B2B shippers, may be less apparent.
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GlobalTranz and the Chicagoland Food and Beverage Network recently hosted a panel discussion titled "The Future of Ecommerce: Delivering on New Consumer Expectations According to the “New Rules” of Retail" to address the challenges for shippers of today’s online and offline marketplaces.
Panelists included Adam Root, Chief Operating Officer at Blake’s Seed Based, Maureen Cherwin, Director, e-commerce and digital media at Simple Mills, Kris McDermott, Senior Vice President, e-commerce at Edelman, and Brian Winshall, Executive Vice President at GlobalTranz.
Here are the “New Rules of Ecommerce” for shippers that panelists shared:
- Customer expectations and retail compliance requirements will continue to increase and tighten. For more information on navigating retail compliance, read this article on making sense of retail OTIF requirements.
- To compete profitably and long term, shippers must have the right strategy, solution, resources and partners to aid in execution. Transportation Management System (TMS) technology is a critical tool for lowering costs, enhancing visibility, creating efficiencies, and capturing data to drive business intelligence and real-time decision-making.
- On a site like Amazon.com, there can be benefits to offering a custom eCommerce pack or having your 3PL kit multiples of your standard retail packs together vs. merely selling “eaches” of that retail pack.
- Online shelf space seems infinite, but it’s very limited because most consumers only view one page of results. Therefore, it’s more important than ever to make sure your product content is optimized.
- The language you typically use to describe your products may not translate well to e-commerce. The best online product descriptions are SEO-friendly and mimic phrases that consumers tend to type into search queries.
- Due to dynamic price-matching algorithms, it’s more important than ever to strategize online and offline pricing in a holistic manner and find ways to help maintain pricing integrity for your brand.
- Because consumers increasingly use Amazon like a search engine to research products, consider investing marketing dollars there in a seemingly disproportionate fashion—not only to spur sales, but to reach consumers who may start on Amazon but subsequently purchase via other online or offline retailers.
For assistance in navigating the logistics challenges of the e-commerce landscape and playing by the new rules of retail, contact GlobalTranz.
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